MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
UAQ CHEMICAL INDUSTRIES |
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Registered Office : |
Ahmed Bin Rashid Port, Free Zone Authority, P O Box – 1334,
Umm Al Quwain, |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.11.1995 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Chemicals, Pesticides and Fertilizers |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
UAQ CHEMICAL INDUSTRIES
Country of Origin :
Umm Al Quwain, United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date :
1st November 1995
Trade Licence Number :
026
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
50
Line of Business :
Manufacturers of chemicals, pesticides and fertilizers.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
UAQ CHEMICAL INDUSTRIES
ADDRESS
Registered & Physical Address
Location : Ahmed Bin
Rashid Port, Free Zone Authority
PO Box : 1334
Town : Umm Al
Quwain
Country : United Arab
Emirates
Telephone : (971-6) 7651942
/ 7651950
Facsimile : (971-6)
7651945
Email : saeed@uaqci.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Free Zone Authority of Umm Al Quwain.
KEY PRINCIPALS
Dr Navid Ullrahman Managing
Director
Hanif Quraishi Director
Saeed Akhtar General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1st
November 1995
Legal Form : Limited Liability
Company
Trade Licence No. : 026
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
Dr Navid Ullrahman
Hanif Quraishi
LINE OF BUSINESS
Operations : Engaged in the
manufacture of chemicals, pesticides and fertilizers.
Import Countries : Europe and the
Far East.
Operating Trend : Steady
Subject has a workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Sales UAE
Dh 9,450,000 UAE
Dh 10,280,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
United Arab Bank
PO Box : 3562
Abu Dhabi
Tel : (971-2) 6275000
Fax : (971-2) 6270766
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1995, subject is involved in the manufacture of
chemicals, pesticides and fertilizers.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
Maximum suggested credit figure: US$ 150,000
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)